(MENAFN) Lao authorities have reduced import tariffs on 8,536 items to zero as part of efforts in establishing the ASEAN Free Trade Area.
The report, which the Lao Ministry of Planning and Investment distributed, shows the Lao government no longer charges import tariffs on 8,536 products from ASEAN member countries.
These products represent 89 percent of total items on a designated list which Laos trades with regional member countries under the ASEAN Trade in Goods Agreement (ATIGA).
The report also showed that under the ATIGA, Laos is only able to maintain import tariffs on some goods which it sees as essential for economic stability. In this regard, the government has left the level of import tariffs unchanged on 325 items.
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